Greetings, Everyone and nice to be back with you after a few days!
While Data Points in general continue with the “manipulated” snippets of improvement ( OK… call me a Perma-Bear… but we all know Data is manipulated and skewed, so we must simply work with what we have…), Manufacturing and Pending Home Sales see Bullish Behavior in all aspects of Risk Appetite returning to view.
Equities are on board, as well as Commodities in the early hours of the U.S. sessions, and as we look a bit further out on the Daily Views… solid Uptrends are grinding into place.
Gold and Crude may be seen in this fashion, although October Crude may be working a “loose” Macro-Double-Top Formation as the days continue on.
Gold sees a rising Channel within a Symmetrical Triangle… which is still indicative of our past Ranges we have literally worked in all Summer. The $931.50 to $974.20’s Area defines this overall Range, so while we have seen consistent Appreciation… Consolidation is still the “Master of this Domain” at this time.
Crude looks towards the Cluster-Resistance of the 38.2% Fib Variant @ $77.00 to contain Price… although a Break of the small Horizontal Channel at the $68.20’s is surely possible if our “loose” Double-Toppish Behavior comes to fruition before we see the $77.00 Handle.
